38156 Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices 

23See id. at 19930. 

24See id. at 19924 n.58. 

25See id. at 19925. 

26See id. 

27Section 19(b)(2) of the Act, as amended by the 

Securities Act Amendments of 1975, Public Law 

94–29 (June 4, 1975), grants the Commission 

flexibility to determine what type of proceeding— 

either oral or notice and opportunity for written 

comments—is appropriate for consideration of a 

particular proposal by a self-regulatory 

organization. See Securities Act Amendments of 

1975, Senate Comm. on Banking, Housing & Urban 

Affairs, S. Rep. No. 75, 94th Cong., 1st Sess. 30 

(1975). 28 17 CFR 200.30–3(a)(57). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

prevent the Shares from becoming the 

predominant force on pricing in either 

the bitcoin spot or CME bitcoin futures 

markets? 23

5. What are commenters’ views on the 

Exchange’s statement, generally, that 

bitcoin is resistant to price 

manipulation and that other means to 

prevent fraudulent and manipulative 

acts and practices exist to justify 

dispensing with the requisite 

surveillance sharing agreement with a 

regulated market of significant size 

related to bitcoin? 24 What of the 

Exchange’s assertion in support of such 

statement that significant liquidity in 

the spot market and the impact of 

market orders on the overall price of 

bitcoin mean that attempting to move 

the price of bitcoin is costly? 25 What of 

the assertion that offering only in-kind 

creations and redemptions provides 

unique protections against potential 

attempts to manipulate the Shares and 

that the price the Sponsor uses to value 

the Trust’s bitcoin ‘‘is not particularly 

important’’? 26

III. Procedure: Request for Written 

Comments 

The Commission requests that 

interested persons provide written 

submissions of their views, data, and 

arguments with respect to the issues 

identified above, as well as any other 

concerns they may have with the 

proposal. In particular, the Commission 

invites the written views of interested 

persons concerning whether the 

proposal is consistent with Section 

6(b)(5) or any other provision of the Act, 

and the rules and regulations 

thereunder. Although there do not 

appear to be any issues relevant to 

approval or disapproval that would be 

facilitated by an oral presentation of 

views, data, and arguments, the 

Commission will consider, pursuant to 

Rule 19b–4, any request for an 

opportunity to make an oral 

presentation.27

Interested persons are invited to 

submit written data, views, and 

arguments regarding whether the 

proposal should be approved or 

disapproved by August 9, 2021. Any 

person who wishes to file a rebuttal to 

any other person’s submission must file 

that rebuttal by August 23, 2021. 

Comments may be submitted by any 

of the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

CboeBZX–2021–024 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–CboeBZX–2021–024. This 

file number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–CboeBZX–2021–024 and 

should be submitted by August 9, 2021. 

Rebuttal comments should be submitted 

by August 23, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.28

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–15194 Filed 7–16–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92394; File No. SR–ISE– 

2021–15] 

Self-Regulatory Organizations; Nasdaq 

ISE, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Options 2, 

Section 5, Market Maker Quotations 

July 13, 2021. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on June 30, 

2021, Nasdaq ISE, LLC (‘‘ISE’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Options 2, Section 5, Market Maker 

Quotations. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/ise/rules, at the principal 

office of the Exchange, and at the 

Commission’s Public Reference Room. 

II. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

In its filing with the Commission, the 

Exchange included statements 

concerning the purpose of and basis for 

the proposed rule change and discussed 

any comments it received on the 

proposed rule change. The text of these 

statements may be examined at the 

places specified in Item IV below. The 

Exchange has prepared summaries, set 

forth in sections A, B, and C below, of 

the most significant aspects of such 

statements. 


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Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices 38157 

3The term ‘‘Competitive Market Maker’’ means a 

Member that is approved to exercise trading 

privileges associated with CMM Rights. See Options 

1, Section 1(a)(12). 

4The term ‘‘Primary Market Maker’’ means a 

Member that is approved to exercise trading 

privileges associated with PMM Rights. See Options 

1, Section 1(a)(36). 

5Options 2, Section 5(e). 

6Options 2, Section 4(b)(4) describes bid/ask 

differentials. 

7The term ‘‘Member’’ means an organization that 

has been approved to exercise trading rights 

associated with Exchange Rights. See General 1, 

Section 1(a)(13). 

8Options 2, Section 5(e)(1). 

9Options 2, Section 5(e)(1). 

10Options 2, Section 5(e)(2). 

11See Options 2, Section 5(e). Today, the 

Exchange aggregates all quotes submitted through 

the Specialized Quote Feed interface from the 

Member, regardless of whether the quote was 

submitted by the Member in its capacity as Primary 

Market Maker or Competitive Market Maker. 

12Preferred Competitive Market Makers are 

subject to enhanced quoting requirements as 

provided in Options 2, Section 5(e)(3). See Options 

3, Section 10 at Supplementary Material .01. 

13 ‘‘Specialized Quote Feed’’ or ‘‘SQF’’ is an 

interface that allows Market Makers to connect, 

send, and receive messages related to quotes, 

Immediate-or-Cancel Orders, and auction responses 

to the Exchange. Features include the following: (1) 

Options symbol directory messages (e.g., underlying 

and complex instruments); (2) System event 

messages (e.g., start of trading hours messages and 

start of opening); (3) trading action messages (e.g., 

halts and resumes); (4) execution messages; (5) 

quote messages; (6) Immediate-or-Cancel Order 

messages; (7) risk protection triggers and purge 

notifications; (8) opening imbalance messages; (9) 

auction notifications; and (10) auction responses. 

The SQF Purge Interface only receives and notifies 

of purge requests from the Market Maker. Market 

Makers may only enter interest into SQF in their 

assigned options series. See Options 3, Section 7 at 

Supplementary Material .03(c). 

14A ‘‘badge’’ shall mean an account number, 

which may contain letters and/or numbers, 

assigned to Market Makers. A Market Maker 

account may be associated with multiple badges. 

See Options 1, Section 1(a)(5). 

15 ISE currently utilizes a badge with an 

associated options series to designate a Primary 

Market Maker assigned in an options series and a 

badge with an associated options series to designate 

a Competitive Market Maker assigned in an option 

series. 

A. Self-Regulatory Organization’s 

Statement of the Purpose of, and 

Statutory Basis for, the Proposed Rule 

Change 

1. Purpose 

The Exchange proposes to amend ISE 

Rules at Options 2, Section 5, Market 

Maker Quotations. Currently, the 

Exchange requires Competitive Market 

Makers 3 and Primary Market Makers 4

to enter bids and offers for the options 

to which they are registered, except in 

an assigned options series listed intraday on the Exchange.5 Quotations must 

meet the legal quote width requirements 

specified in Options 2, Section 4(b)(4).6

On any given day, a Competitive Market 

Maker is not required to enter 

quotations in the options classes to 

which it is appointed. A Competitive 

Market Maker may initiate quoting in 

options classes to which it is appointed 

intra-day. If a Competitive Market 

Maker initiates quoting in an options 

class, the Competitive Market Maker, 

associated with the same Member,7 is 

collectively required to provide twosided quotations in 60% of the 

cumulative number of seconds, or such 

higher percentage as the Exchange may 

announce in advance, for which that 

Member’s assigned options class is open 

for trading.8 Notwithstanding the 

foregoing, a Competitive Market Maker 

shall not be required to make two-sided 

markets pursuant to Options 2, Section 

5(e)(1) in any Quarterly Options Series, 

any adjusted options series, and any 

option series with an expiration of nine 

months or greater for options on equities 

and exchange-traded funds (‘‘ETFs’’) or 

with an expiration of twelve months or 

greater for index options. Competitive 

Market Makers may choose to quote 

such series in addition to regular series 

in the options class, but such quotations 

will not be considered when 

determining whether a Competitive 

Market Maker has met the obligation.9

Primary Market Makers, associated with 

the same Member are collectively 

required to provide two-sided 

quotations in 90% of the cumulative 

number of seconds, or such higher 

percentage as the Exchange may 

announce in advance, for which that 

Member’s assigned options class is open 

for trading. Primary Market Makers are 

required to make two-sided markets in 

any Quarterly Options Series, any 

Adjusted Options Series, and any option 

series with an expiration of nine months 

or greater for options on equities and 

ETFs or with an expiration of twelve 

months or greater for index options.10

A Member is required to meet each 

market making obligation separately.11

Currently, Options 2, Section 5(e) states, 

‘‘A Competitive Market Maker who is 

also the Primary Market Maker will be 

held to the Primary Market Maker 

obligations in the options series in 

which the Primary Market Maker is 

assigned and will be held to 

Competitive Market Maker obligations 

in all other options series where 

assigned. A Competitive Market Maker 

who receives a Preferenced Order, as 

described in Options 2, Section 10 and 

Options 3, Section 10 will be held to the 

standard of a Preferred CMM in the 

options series of any options class in 

which it receives the Preferenced 

Order.’’ 12

Today, the Exchange calculates 

whether a Member that is assigned in an 

options series as both a Primary Market 

Maker and a Competitive Market Maker 

has met its quoting obligations as 

Primary Market Maker and Competitive 

Market Maker, respectively, by 

aggregating all quotes submitted through 

the Specialized Quote Feed 13 interface 

from the Member, whether the quote 

was submitted by the Member in its 

capacity as Primary Market Maker or 

Competitive Market Maker. 

The Exchange proposes to amend its 

calculation to only consider quotes 

submitted through the Specialized 

Quote Feed interface utilizing badges 14

and options series 15 assigned to a 

Primary Market Maker when calculating 

whether a Member acting as a Primary 

Market Maker has satisfied the 

requirements to provide two-sided 

quotations in 90% of the cumulative 

number of seconds, or such higher 

percentage as ISE may announce for 

which that Member’s assigned options 

class is open for trading. Similarly, the 

Exchange proposes to only consider 

quotes submitted through the 

Specialized Quote Feed interface 

utilizing badges and options series 

assigned to a Competitive Market Maker 

when calculating whether a Member 

acting as a Market Maker has satisfied 

the requirements to provide two-sided 

quotations in 60% of the cumulative 

number of seconds, or such higher 

percentage as ISE may announce for 

which that Member’s assigned options 

class is open for trading, provided the 

Competitive Market Maker initiated 

quoting in an options class for which 

that Member’s assigned options class is 

open for trading. With this proposed 

change, a Member that is a Competitive 

Market Maker in an options series 

where the Member is also assigned as 

the Primary Market Maker in an options 

series will be held to both the Primary 

Market Maker and Competitive Market 

Maker obligations, pursuant to Options 

2, Section 5(e), separately, in that 

options series. The Exchange will 

consider whether a Member, acting as 

both Primary Market Maker and 

Competitive Market Maker in an 

assigned options series, has complied 

with each requirement by only 

considering quotes in the respective 

badges. 

By way of example, 

Current Quoting obligation 

methodology: 

Primary Market Maker firm 123 is 

assigned five badges: 123A, 123B, 123C, 

123D and 123E. 

Badge 123A is designated the Primary 

Market Maker badge and badge 123B–E 

are designated as Competitive Market 

Maker badges. 


lotter on DSK11XQN23PROD with NOTICES1
38158 Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices 

16See Options Regulatory Alert 2021–36. 

17 15 U.S.C. 78f(b). 

18 15 U.S.C. 78f(b)(5). 

19See Options 3, Section 10(c)(1)(B). 

20See Options 7, Pricing Schedule. 

21 General. Transactions of a Market Maker 

should constitute a course of dealings reasonably 

calculated to contribute to the maintenance of a fair 

and orderly market, and Market Makers should not 

make bids or offers or enter into transactions that 

are inconsistent with such a course of dealings. 

Appointment. With respect to each options class to 

which a Market Maker is appointed under Options 

2, Section 3, the Market Maker has a continuous 

obligation to engage, to a reasonable degree under 

the existing circumstances, in dealings for his own 

account when there exists, or it is reasonably 

anticipated that there will exist, a lack of price 

continuity, a temporary disparity between the 

supply of and demand for a particular options 

contract, or a temporary distortion of the price 

relationships between options contracts of the same 

class. Without limiting the foregoing, a Market 

Maker is expected to perform the following 

activities in the course of maintaining a fair and 

orderly market: (1) To compete with other Market 

Makers to improve the market in all series of 

options classes to which the Market Maker is 

appointed. (2) To make markets that, absent 

changed market conditions, will be honored for the 

number of contracts entered into the Exchange’s 

System in all series of options classes to which the 

Market Maker is appointed. (3) To update market 

quotations in response to changed market 

conditions in all series of options classes to which 

the Market Maker is appointed. 

Today, all quoting activity from all 5 

badges is aggregated in determining if 

Firm 123 complied with the 

requirement to provide two-sided 

quotations in 90% of the cumulative 

number of seconds for which that 

Member’s assigned options series are 

open for trading. The higher of the two 

obligations is required today. 

Proposed Quoting obligation 

methodology: 

Primary Market Maker firm 123 is 

assigned five badges: 123A, 123B, 123C, 

123D and 123E. 

Badge 123A is designated the Primary 

Market Maker badge and badge 123B–E 

are designated as Competitive Market 

Maker badges. 

As proposed only quoting activity 

from badge 123A (and excluding badges 

123 B–E) would be counted toward the 

requirement to provide two-sided 

quotations in 90% of the cumulative 

number of seconds for which that 

Member’s assigned options series are 

open for trading. 

All other badges (123 B–E), excluding 

badge 123A, would be counted toward 

the requirement to provide two-sided 

quotations in 60% of the cumulative 

number of seconds for which that 

Member’s assigned options series are 

open for trading. 

A Member may have only one 

Primary Market Maker badge per option 

series. 

The below example explains how the 

Exchange aggregates quotes from 

Primary Market Makers, in their 

assigned options series, to determine 

compliance with quoting requirements, 

which will not be changing pursuant to 

this proposal. The same calculation 

applies to quotes from Competitive 

Market Makers in their assigned options 

series. 

Under the proposal, and as is the case 

today, by way of example, assume 

Primary Market Maker Firm ABC 

assigned in five symbols across 2 

different badges: 

Badge 123A and B is assigned in 

symbols QQQ and SPY, respectively. 

Badge 124A, B and C is assigned in 

symbols IBM, GM, and MSFT, 

respectively. 

Quotes submitted through the 

Specialized Quote Feed interface from 

the Firm ABC’s Primary Market Maker 

badges from all 5 symbols will be 

counted in determining compliance 

with Firm ABC’s requirement to provide 

two-sided quotations in 90% of the 

cumulative number of seconds for 

which Firm ABC’s assigned options 

series are open for trading. 

If Firm ABC Primary Market Maker 

badge 123A quotes symbol QQQ at 95% 

and badge 123B quotes symbol SPY at 

90% and Firm ABC Primary Market 

Maker badge 124A quotes IBM at 85%, 

badge 124B quotes GM at 95%, and 

badge 124C quotes MSFT at 90% then 

Firm ABC will have met requirement to 

provide two-sided quotations in 90% of 

the cumulative number of seconds for 

which Firm ABC’s assigned options 

series are open for trading because the 

percentage across the 5 symbols is 91%. 

Implementation 

The Exchange proposes to implement 

this rule change on August 2, 2021. The 

Exchange has issued an Options 

Regulatory Alert notifying Members of 

this change.16

2. Statutory Basis 

The Exchange believes that its 

proposal is consistent with Section 6(b) 

of the Act,17 in general, and furthers the 

objectives of Section 6(b)(5) of the Act,18

in particular, in that it is designed to 

promote just and equitable principles of 

trade and to protect investors and the 

public interest by requiring Primary 

Market Makers and Competitive Market 

Makers to separately meet quoting 

requirements as both a Primary Market 

Maker and Competitive Market Maker, 

respectively, when the Member is 

assigned in both roles in an options 

series. 

The Exchange’s proposal to separately 

calculate Competitive Market Maker and 

Primary Market Maker quoting 

obligations where the Member is 

assigned as both Primary Market Maker 

and Competitive Market Maker in an 

options series is consistent with the Act. 

Specifically, the Exchange’s proposal 

would only consider quotes submitted 

through the Specialized Quote Feed 

interface utilizing badges and options 

series assigned to a Primary Market 

Maker when calculating whether a 

Member acting as a Primary Market 

Maker has satisfied the requirements to 

provide two-sided quotations in 90% of 

the cumulative number of seconds, or 

such higher percentage as ISE may 

announce for which that Member’s 

assigned options series are open for 

trading. Similarly, the Exchange’s 

proposal would only consider quotes 

submitted through the Specialized 

Quote Feed interface utilizing badges 

and option series assigned to a 

Competitive Market Maker when 

calculating whether a Member acting as 

a Competitive Market Maker has 

satisfied the requirements to provide 

two-sided quotations in 60% of the 

cumulative number of seconds, or such 

higher percentage as ISE may announce 

for which that Member’s assigned 

options series are open for trading. 

The proposed change for calculating 

the Primary Market Maker requirement 

separate from the Competitive Market 

Maker requirement, where a Member is 

assigned in both roles in an options 

series, would ensure that the Member 

quotes the requisite number of seconds 

in an assigned options series, when 

acting as both Primary Market Maker 

and Competitive Market Maker. This 

would ensure that a Member adds the 

requisite amount of liquidity in that 

assigned options series in exchange for 

certain benefits offered by the Exchange 

to the Member, such as enhanced 

Primary Market Maker allocation 19 and 

favorable pricing,20 in addition to the 

Member fulfilling other market making 

obligations specified in Options 2, 

Section 4(a) and (b).21

B. Self-Regulatory Organization’s 

Statement on Burden on Competition 

The Exchange does not believe that 

the proposed rule change will impose 

any burden on competition not 

necessary or appropriate in furtherance 

of the purposes of the Act. Rather, the 

proposal would ensure that Members 

that are assigned in an options series as 

both the Primary Market Maker and 

Competitive Market Maker, respectively, 

are meeting the same quoting 

obligations as other Members who are 

assigned solely as either the Primary 

Market Maker or Competitive Market 

Maker in an option series. Also, this 

proposal would ensure that a Member 


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Federal Register / Vol. 86, No. 135 / Monday, July 19, 2021 / Notices 38159 

22See note 19 above. 

23See note 20 above. 

24See note 21 above. 

25 15 U.S.C. 78s(b)(3)(A). 

26 17 CFR 240.19b–4(f)(6). In addition, Rule 19b– 

4(f)(6)(iii) requires the Exchange to give the 

Commission written notice of its intent to file the 

proposed rule change, along with a brief description 

and text of the proposed rule change, at least five 

business days prior to the date of filing of the 

proposed rule change, or such shorter time as 

designated by the Commission. The Exchange has 

satisfied this requirement. 

27 17 CFR 240.19b–4(f)(6). 

28 17 CFR 240.19b–4(f)(6)(iii). 

29For purposes only of waiving the 30-day 

operative delay, the Commission has also 

considered the proposed rule’s impact on 

efficiency, competition, and capital formation. See 

15 U.S.C. 78c(f). 

30 17 CFR 200.30–3(a)(12). 

1 15 U.S.C. 78s(b)(1). 

2 17 CFR 240.19b–4. 

quotes the requisite number of seconds 

in an assigned options series, when 

acting as both Primary Market Maker 

and Competitive Market Maker, 

respectively, thereby adding the 

requisite amount of liquidity in 

exchange for certain benefits provided 

by the Exchange such as enhanced 

Primary Market Maker allocation 22 and 

favorable pricing,23 in addition to 

fulfilling its other market making 

obligations specified in Options 2, 

Section 4(a) and (b).24

C. Self-Regulatory Organization’s 

Statement on Comments on the 

Proposed Rule Change Received From 

Members, Participants, or Others 

No written comments were either 

solicited or received. 

III. Date of Effectiveness of the 

Proposed Rule Change and Timing for 

Commission Action 

Because the proposed rule change 

does not: (i) Significantly affect the 

protection of investors or the public 

interest; (ii) impose any significant 

burden on competition; and (iii) become 

operative for 30 days from the date on 

which it was filed, or such shorter time 

as the Commission may designate, it has 

become effective pursuant to Section 

19(b)(3)(A) of the Act 25 and Rule 19b– 

4(f)(6) thereunder.26

A proposed rule change filed under 

Rule 19b–4(f)(6) 27 normally does not 

become operative for 30 days after the 

date of filing. However, pursuant to 

Rule 19b–4(f)(6)(iii),28 the Commission 

may designate a shorter time if such 

action is consistent with the protection 

of investors and the public interest. The 

Exchange has asked the Commission to 

waive the 30-day operative delay so that 

the proposal may become operative 

upon filing. Waiving the operative delay 

will allow the Exchange to amend, 

without delay, its rules regarding 

Market Maker quoting obligations to 

ensure that Members assigned in an 

options series as both the Primary 

Market Maker and Competitive Market 

Maker would have the same quoting 

obligations as Members who are 

assigned solely as either Primary Market 

Maker or Competitive Market Maker in 

an option series. The Commission 

believes that waiving the 30-day 

operative delay is consistent with the 

protection of investors and the public 

interest and hereby designates the 

proposed rule change to be operative 

upon filing.29

At any time within 60 days of the 

filing of the proposed rule change, the 

Commission summarily may 

temporarily suspend such rule change if 

it appears to the Commission that such 

action is necessary or appropriate in the 

public interest, for the protection of 

investors, or otherwise in furtherance of 

the purposes of the Act. 

IV. Solicitation of Comments 

Interested persons are invited to 

submit written data, views, and 

arguments concerning the foregoing, 

including whether the proposed rule 

change is consistent with the Act. 

Comments may be submitted by any of 

the following methods: 

Electronic Comments 

• Use the Commission’s internet 

comment form (http://www.sec.gov/ 

rules/sro.shtml); or 

• Send an email to rule-comments@

sec.gov. Please include File Number SR– 

ISE–2021–15 on the subject line. 

Paper Comments 

• Send paper comments in triplicate 

to Secretary, Securities and Exchange 

Commission, 100 F Street NE, 

Washington, DC 20549–1090. 

All submissions should refer to File 

Number SR–ISE–2021–15. This file 

number should be included on the 

subject line if email is used. To help the 

Commission process and review your 

comments more efficiently, please use 

only one method. The Commission will 

post all comments on the Commission’s 

internet website (http://www.sec.gov/ 

rules/sro.shtml). Copies of the 

submission, all subsequent 

amendments, all written statements 

with respect to the proposed rule 

change that are filed with the 

Commission, and all written 

communications relating to the 

proposed rule change between the 

Commission and any person, other than 

those that may be withheld from the 

public in accordance with the 

provisions of 5 U.S.C. 552, will be 

available for website viewing and 

printing in the Commission’s Public 

Reference Room, 100 F Street NE, 

Washington, DC 20549 on official 

business days between the hours of 

10:00 a.m. and 3:00 p.m. Copies of the 

filing also will be available for 

inspection and copying at the principal 

office of the Exchange. All comments 

received will be posted without change. 

Persons submitting comments are 

cautioned that we do not redact or edit 

personal identifying information from 

comment submissions. You should 

submit only information that you wish 

to make available publicly. All 

submissions should refer to File 

Number SR–ISE–2021–15 and should be 

submitted on or before August 9, 2021. 

For the Commission, by the Division of 

Trading and Markets, pursuant to delegated 

authority.30

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2021–15196 Filed 7–16–21; 8:45 am] 

BILLING CODE 8011–01–P 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–92396; File No. SR–MRX– 

2021–08] 

Self-Regulatory Organizations; Nasdaq 

MRX, LLC; Notice of Filing and 

Immediate Effectiveness of Proposed 

Rule Change To Amend Options 2, 

Section 5, Market Maker Quotations 

July 13, 2021. 

Pursuant to Section 19(b)(1) of the 

Securities Exchange Act of 1934 

(‘‘Act’’),1 and Rule 19b–4 thereunder,2

notice is hereby given that on June 30, 

2021, Nasdaq MRX, LLC (‘‘MRX’’ or 

‘‘Exchange’’) filed with the Securities 

and Exchange Commission 

(‘‘Commission’’) the proposed rule 

change as described in Items I and II 

below, which Items have been prepared 

by the Exchange. The Commission is 

publishing this notice to solicit 

comments on the proposed rule change 

from interested persons. 

I. Self-Regulatory Organization’s 

Statement of the Terms of Substance of 

the Proposed Rule Change 

The Exchange proposes to amend 

Options 2, Section 5, Market Maker 

Quotations. 

The text of the proposed rule change 

is available on the Exchange’s website at 

https://listingcenter.nasdaq.com/ 

rulebook/mrx/rules, at the principal 

office of the Exchange, and at the 

Commission’s Public Reference Room. 


lotter on DSK11XQN23PROD with NOTICES1